BharatPe's Milestone💸, Alipay's Zomato Exit👋🏻
India's Mobile Manufacturing Power, P2P Revenue Surges, a Reminder on Life's Offers, Funding Deals and more.
Welcome to Rise & Shine, where we resonate with the profound simplicity of this timeless truth.
"Life is a one-time offer, use it well."
In the mosaic of moments that is our life, this statement serves as a poignant reminder of the precious gift we've been given.
Join us as we explore the art of intentional living, understanding that each day is an opportunity to craft a meaningful and purposeful existence.
In this edition, let's embark on a journey of gratitude and purpose, savoring the richness of every moment, for life is indeed a one-time offer.
BharatPe turns EBITDA positive for the first time💸
Fintech major BharatPe has turned profitable five years after being founded in 2018, CFO and interim CEO Nalin Negi announced. The firm reported that its annualized revenue has crossed ₹1,500 crore, an uptick of 31% compared to the same month the previous year.
China’s Alipay to sell its 3.4% stake in Zomato👋🏻
Chinese payments group Alipay plans to sell its 3.4% stake in food delivery giant Zomato for nearly $400 million through block deals. Alipay, owned by Ant Group, will offload its entire 3.44% stake in the deal, per a Reuters report.
India mobile manufacturing worth $44 billion, exports $11 billion: IT Min📱
Mobile phone manufacturing in India has gone up from a miniscule number to $44 billion today, and about $11 billion worth of these handsets are exported, Union minister for electronics and information technology Ashwini Vaishnaw has said.
P2P companies log revenue jump, thanks to biz partnerships🤝🏻
Peer-to-peer (P2P) lending startups have remained confined to the fringes of the financial services industry. But 2023 saw them report healthy topline growth buoyed by strong partnership business.
Omnichannel payment solutions provider PhiCommerce has raised $10 million as part of its Series A1 round led by BEENEXT with participation from Opus Ventures.
TV Mohandas Pai's Aarin Capital-backed UC Inclusive Credit (UCIC) has raised $8 million in equity from Singapore-originated Insitor Partners as it plans to expand its business of financing to startups.
Innovist, the parent company of consumer brands such as Bare Anatomy and Chemist at Play, has raised $7 million in a Series A funding round led by Amazon Smbhav Venture Fund.
Miraggio, a fashion accessories brand, has bagged ₹10 crore ($1.2 million) in a Pre-Series A investment round co-led by Seven Rivers Holding, and Magnetic.
Ayurvedic cannabis startup HempStreet has raised $1 million in pre-Series A round led by existing backer Carl Waahlin.
Investment platform SustVest has raised $250,000 in a round led by WEH Ventures.
Woovly, a social commerce platform has secured an undisclosed capital from investors including Sony Innovation Fund, SOSV, RTAF, and ViNners.
Tweet of the day🐥
As we bid farewell to this edition, carry with you the resonance of "Life is a one-time offer, use it well."
Embrace each day with gratitude, live with intention, and make the most of the unique journey that is yours.
Thank you for being part of our community, where together, we navigate the tapestry of life, cherishing every moment and using this one-time offer to create a life of meaning and fulfillment.
Feel free to share it with someone who could use a little inspiration. Let's pass on the good vibes and make someone's day!
Thanks for reading till the end!